6.d.
TCEDC Agenda
- Meeting Date:
- 08/16/2023
- Title:
- Establishing a Chamber membership grant program for businesses located in the city limits of Texas City, Texas
- Submitted For:
- Kristin Edwards
- Submitted By:
- Kristin Edwards, Economic Development
- Department:
- Economic Development
ACTION REQUEST (Brief Summary)
Discussion and possible action for Resolution No. 2023-21, establishing a Chamber membership grant program for new or existing businesses located within the city limits of Texas City, Texas.
BACKGROUND
The Texas City Economic Development Corporation allocates funds each fiscal year to support business incentives.
Effective FY24, staff is proposing a new incentive program to provide new or existing businesses with funding assistance to join the Texas City-La Marque Chamber of Commerce for one (1) year. This one-time grant would not exceed $500 per business. It is the belief of the Texas City EDC that membership and active participation in the TCLM Chamber can lead to stronger community connections, higher public awareness of local businesses, and additional jobs in the City of Texas City.
Applicants must fall into one of two categories:
1. New for-profit businesses (operational for less than one year) operating within the city limits of Texas City; or
2. Existing for-profit businesses with ten (10) employees or fewer who have not previously joined the Texas City-La Marque Chamber of Commerce.
All requests for funding assistance will be reviewed and approved by the EDC. For awareness, the La Marque Economic Development Corporation has established a similar program, operating funding assistance to qualifying businesses in an amount not to exceed $500 per business. A maximum of twenty (20) businesses would be eligible per year, or up to $10,000 per year.
This incentive program would complement the existing efforts of the EDC to bolster economic development in the City of Texas City. The addition of this program would not negatively impact or change the proposed FY24 budget previously reviewed by the EDC.
Effective FY24, staff is proposing a new incentive program to provide new or existing businesses with funding assistance to join the Texas City-La Marque Chamber of Commerce for one (1) year. This one-time grant would not exceed $500 per business. It is the belief of the Texas City EDC that membership and active participation in the TCLM Chamber can lead to stronger community connections, higher public awareness of local businesses, and additional jobs in the City of Texas City.
Applicants must fall into one of two categories:
1. New for-profit businesses (operational for less than one year) operating within the city limits of Texas City; or
2. Existing for-profit businesses with ten (10) employees or fewer who have not previously joined the Texas City-La Marque Chamber of Commerce.
All requests for funding assistance will be reviewed and approved by the EDC. For awareness, the La Marque Economic Development Corporation has established a similar program, operating funding assistance to qualifying businesses in an amount not to exceed $500 per business. A maximum of twenty (20) businesses would be eligible per year, or up to $10,000 per year.
This incentive program would complement the existing efforts of the EDC to bolster economic development in the City of Texas City. The addition of this program would not negatively impact or change the proposed FY24 budget previously reviewed by the EDC.
ANALYSIS
to establish a Chamber membership grant program for new or existing businesses located within the city limits of Texas City, Texas.